AGL Solar partner issues Green Bond
A partner of solar energy storage systems provider, AGL Solar, is looking to raise $50 million to refinance residential rooftop systems, through a green bond.
Financial services provider, FlexiGroup Ltd, announced its green Asset Backed Security (ABS) has become the first green bond to receive certification against the Climate Bonds Solar Standard.
Climate Bonds Initiative chief executive, Sean Kidney, welcomed the launch of the new bond.
"There is enormous potential for this green ABS to be the first of many," he said.
"By gaining Climate Bonds Certification, FlexiGroup has assured investors of the green credentials of this bond and set a best practice example or future domestic issuers."
The National Australia Bank acted as the arranger and green bond structuring agent, with Norwegian firm DNV.GL providing verification for it.
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